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he does not want spending caughts and i dare say he would be happy to see in reverses in government spending. so that does not jive with what the house is doing. >> that is a fair point. some critics say inside of the house conference there is a real fight. they want to take these bold stances on the ten year balanced budget so they can get some leverage to fund the government when it comes up for a vote in a couple of week. >> no, i think they are doing the lord's work. thank you very much. we have a couple of special guests to tell us more. democrat from vermont, shawn duffy, republican from wisconsin. to both of you gentlemen friends of this show i wish you a happy new year. mr. boehner attached a bublg et to this. >> there are no specific cuts. where in medicare or the pentagon are they going to cut? they have to specify that before you can have a serious conversation. i don't think members of congress should be playing with fiscal fire which is what we are doing when we use a tactic as a threat to plunge america into defought. i believe that republicans and democrats should den
that the president was going to slow down on some government initiatives, think again. we will get into the details in the second. here is how it was received across the globe. u.s. futures are up about 19 points. similar gains in the s&p 500 and nasdaq. the nasdaq. the first two are already at five year highs. the nasdaq is a long way from that. it has more to do with their currency, the nikkei is up. less to do with the inauguration of barack obama today. but perhaps it was something that would get in the way of some of the good economic fortunes they see downwind. the markets little dissuaded by anything that happened today. despite concerns that republicans feel that they are going to get the short of the stick -- short end of the stick from the president. chuck schumer is the latest essay, to say, as you know, if it comes to another budget that will be stressful, republicans may not like it, but they will have to deal with it. i will have more on the attitude in the approach of the president. i didn't see anything shocking or the president. he is kind of echoing what he already has said. maybe
the spending cut fight on the upcoming continuing resolution to fund the government. >> i didn't hear any focus on spending cuts. and i didn't hear any focus on the sequester. and i'm looking at rasmussen polls that show me that the public wants across-the-board spending cuts. and you and i both know the republican base is hungry for that after getting hosed in that high tax bill. >> i think you're a bit off, larry, respectfully in that republicans i think want to have these spending cuts. but they're picking a strategic battle. and you could be right in saying they're picking the wrong battle. but they don't want to have the spending battle on the debt limit. they want to have it on the cr, that continuing resolution to fund the government for the rest of the year. >> well, i am 100% -- look, i do not want to mess with the debt ceiling. i don't want to mess with that. that's a domestic and international global meltdown. so to that extent i agree. i just didn't hear the rest of the story laid out very coherently regarding spending. i didn't hear it from paul ryan, and i didn't hear it from the
's it for "the five." >> bret: should a government drowning in a sea of red ink take on more help to victims of the superstorm sandy? that is a battle right now on the floor of the house of representatives. this is "special report." ♪ ♪ good evening. i'm bret baier. right now, behind me, the house is engaged in a battle that serves as a microcosm for epic struggle of the nation's soaring debt. on one side, the president, democrats and some republicans from the region affected who want to spend billions helping storm victims. on the other, other republicans who say much of the money many this latest bill is targeted elsewhere. and that any funds should be offset with cuts. chief congressional correspondent mike emanuel has update tonight from capitol hill. good evening,be mike. >> reporter: good evening. with debt and spending expected to be the major fight for much of the year, today it is disaster relief money for the northeast following sandy. that is in the middle of the struggle. >> tragedy like hurricane sandy shouldn't be used as an excuse for a grab bag of spending having nothing
at all. i think this was an exercise in showing that the government and the bank of japan, the central bank are on the same page. they certainly delivered that. i think the fact that it's an open-ended asset purchase program, it was more than what the markets had been factoring in. i think the dollar/yen moves are sort of moving independently right now. and i think a lot of that has to do with the comments that we had from government saying, oh, we're not trying to manipulate the currency, which throws into question this competitive devaluation story they were banking on. instead of being explicit about that over the last couple of weeks, now they're going to have to be a little bit more implicit about that. but the man of the hour, mr. shiraka shirakawa, the bank of japan, here is what he had to say. >> translator: japan believes growth is important. we teamed up with the dwoft to strengthen our policies and work on this goal together as one. >> let's take a look at the technicals about this 2% inflation target. because at the same time today, the bank of japan is saying the price of
certain that the citizenry is never so we prefer the government that they cemented tierney. i'm sure you would acknowledge that as well. >> the second amendment is not absolute. you cannot have provisions of issues of how you manage. >> before we go drifting along with judge school yet and one of his journeys, let's return to what i asked you. you do a knowledge, do you not, that one of the reasons for the right to bear arms is to resist the temptation of government to ever be too radical? >> i find that absurd. i don't think our enemy is indefinite. lou: did i say that the enemy was our government? did i not say that part of the second amendment -- the reason it exists is to prevent government from ever being tempted to establish tyranny over our citizens? >> that's what he said. >> that is one of the reasons you're going to see energetic vigilance and perhaps opposition to the efforts of this white house. thank you so much for being here. >> thank you. >> thanks. lou: much more had on the gun-control plans coming up later with the "a-team." stay with us. president obama is adamant. of
fascism, socialism is where the government owns the means of production, in fascism the government doesn't own the means of production, but they control it and that's what's happening with our health care program. mackie says he regrets using the word fascism and clarified on fox and friends. >> mostly i was trying to describe obamacare, free enterprise capitalism which allows value tri exchange between businesses and individuals and it's the basis for prosperity in america, and allows innovation, creativity, freedom of choice. we're moving away from that, so, trying to let people see that that's probably not going to be as effective as if capitalism itself was allowed to work in the marketplace. stuart: that's interesting, government controlled health care. let's bring in da doctor, a specialist, as i said, you're a specialist, okay? under obamacare, what hoops do patients have to jump through to get to see you, a specialist? >> it's a very good question, stuart and there are huge concerns and issues in the medical community for doctors, both about themselves and also, about how to care
changing the laws left and right. >> they want the government to take care of people. >> we use to get rabbit and some other things. stuart: your honor, my child excluded from the cafeteria. poisoned and school. give me a million dollars. >> all i grew up with was peanut butter and jelly sandwiches and school. >> peanut butter and jelly is the best sand -- sandwich. stuart: i was surprised. >> they owe you money. sue them. stuart: dagen and, oh, it is yours. dagen: on american. connell: i love peanut butter, myself. good morning, everybody. dagen: what will the president do to get america back to work. connell: president obama was unable to talk these guys. more importantly, can we keep this up? dagen: a key to a better economy. keys to your house, a new house hopefully. connell: let's talk about the markets. nicole petallides starts us off as she does each day with stocks now. nicole: taking a look at a market that really has shown strength over the last seven of the past nine weeks. the dow trading as high as 13,682 prior to pulling back here into negative territory. we are seeing mu
. tonko: people have said that there is a need for government, they want effective government, efficient government. well, i think when we look at some of the data that are collected, representative garamendi, it is important for us to acknowledge that as we rebuild in our areas that have been damaged by mother nature, you don't just replace, you need to improve upon the situation. for instance, if there are data that are telling us that more and more water volume is expected in certain watershed areas, as in my district, it would be foolish to spend tax dollars, the hard-earned taxpayer dollars, and simply replace an infrastructure, a bridge, at the same height, at the same span if in fact we know that the water and the force of that water is growing with time. and so these are the ways to, i think, incorporate the soundness of academics and analyses that go into how we respond to this. and if much of it is driven by climate change, global warming, some of the impacts of mother nature that are causing these disruptive scenarios, then ought we not look at sound policy that then stretches
straight quarters of slow growth. >>> the british government says there's no indication that the hostage crisis is over in algeria as the reports emerge that doesz may have been killed in a rescue operation. >>> investors are unnerved by big spending plans in 2013. plus, glencore pushes back its mega merger by weeks as the regulatory commission begin necessary south africa. >>> welcome to the program. i want to bring you some breaking news in terms of energy prices. the iea is out with its latest 2013 oil report. it expects u.s. oil demand to remain flat on the year. but the headline here does appear that the market, according to the iea language here, is tighter than we thought. all of a sudden, the market looks tighter than we thought. that's the main message we're getting from the organization. it says the world forecast to consume about 90.8 million barrels per day in 2013, up by about a quarter of a million since december. despite seeing the u.s. slight to even negative, seen as driving increase in demand and global supplies felly 170,000 barrels per day in december to 192 million.
for a narrow definition of what it means for the government to default. skipping payments on government bonds would be a default they say. but skipping payments for other government services wouldn't be. this debate could have real consequences, as darren gersh explains. >> reporter: next month, the u.s. government will owe $38 billion in interest payments on the debt it's sold to investors here and overseas. but the u.s. government will take in about $210 billion in tax revenues in february. a vocal minority in washington now argues those figures show it is possible for the u.s. government to avoid defaulting on its debts even if the debt ceiling is not raised. >> and there is no reason for the government to default unless president obama and the democrats want us to. it's just a scare tactic to continue the spending that they don't want to address. that's why they keep saying, "oh, we're going to default. we're going to default. we're going to default." it's just not true. >> reporter: but talk like that scares many budget analysts in washington. they argue markets will see a failure by the
are moving forward. they're diversified. it would be nice to see stated and local governments address the pension plans the way they did. >> absolutely. we'll check in with you later. >>> it's a big week for the defense industry as well, lockheed martin and northrup grumman report this week. jane is here for a preview. >> reporter: across the board for pretty much defense company, analysts are expecting a drop in earnings year over year, but jason gersky says don't expected to see a fiscal cliff impact. >> on the contrary, there's an opportunity for rates to out-perform expectations. that's because the d.o.d. was trying to get as many contracts done in the fourth quarter in anticipation of sequester potentially being implemented in early january. >> he and others expect flat demand from the defense department, but international growth looks good, international sales have higher margins. gursky likes lockheed martin and ratheon for their patriot systems which could be big in any iran/israel conflict. and he expects these companies to have 8% to 12% returns. will that continue? one othe
of the european ones are under pressure by the government. but the problem is, if you look at issues in the u.s., they're just so low. there's no ability to cut in the long-term. how do you push through entitlement reform and address those issues, especially if there's no market pressure right now? >> my sense is that you don't. i don't understand how that can be achieved and, therefore, i suppose what i struggle with is what solution can the government find? the bank of japan, if you monetize the debt in a low inflationary environment, is this a free lunch? >> right. >> in the uk, it has turned out to be a free lunch. would it in japan? possibly, yes, and, therefore, i wonder if these issues ever will be addressed. >> and what's so interesting, you're seeing these bizarre rates happening in a monetary policy. we feel like we're in a whole new regime where people feel like it doesn't matter at all. wondering if it matters at all how much you spend and borrow in these situations. how does it change, if at all your strategy from here? >> it makes having a long-term strategy really, really tough
spiking to buy government bonds. what this could mean for your fixed income investing and where to turn for profits. ♪ at a dry cleaner, we replaced people with a machine. what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally. nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go... we got clients in today. [ male announcer ] save on ground shipping at fedex office. >> reporter: and we've got amd numbers to report for you. it looks as if it's a beat, reporting a loss of 14 cents per share as opposed to the street was expecting 20 cents a share on revenue of 1.16 billion, the street was expecting revenue of 1.15 billion. their quarterly gross margin is now 16%, and, of course, they have been struggling with the slowdown in pc sales worldwide. back to you guys. david: meanw
deficits, but he signalled split decisions in an era of divided government. >> progress does not compel us to settle. centuries long debates about the role of government for all time, but it does require us to act in our time. [applause] >> for now decisions are upon us. and we cannot afford to wait. we cannot mistake absolutism for principle or substitute spectacle for politics or treat name calling as reasoned debate. [applause] >> we must act. we must act knowing that our work will be unperfect. we must act knowing that today's victories will be only partial. peter: top republicans issued bipartisan statements in the spirit of the day, but mitch mcconnell, the senate republican leader called federal spending and the debt the transcendent challenge of the great challenges of our day. david: was it president harrison who had a two hour speech at his inauguration that he caught pneumonia. this was one of the quickest speeches i have ever seen before. but bottom line here, the president, a lot of people say it sounded more like an acceptance speech at a convention than it did at an inaugura
hurdles, the government probably wouldn't allow a tie-up between two of the biggest miners in the country. it's looking not too bad right now. we've had the iron ore price jump up to levels that we haven't seen in more than 12 months. but rio is out with production numbers earlier on this week revealing that it's sought strong demand for iron ore innous trail ya over the 2012 calendar year and it is, of course, pressing ahead with massive expansion plans in northwestern australia. just how successful those are, of course, time will only tell. >> great. matt, thank you very much for joining us this morning. fascinating story. >> what's interesting, sam walsh, who is going to replace him on the scene as an operations guy, and it probably looks back at the reason he's going is because they misunderstood the operation or requirements in mozambique. >> they may have overpaid for the assets, but they also underplayed how difficult it was going to be, the infrastructure requirement, right? because they were going to load this stuff on to a barge, take it down the river. the amount of infrastruct
been the government. lori: the bitter cold gripping the northwest. we will show you the metals. as we head to break. back after this. ♪ [ woman ] if you have the audacity to believe your financial advisor should focus on your long-term goals, not their short-term agenda. [ male announcer ] join the nearly 7 million investors who think like you do. face time and think time make a difference. at edward jones, it's how we make sense of investing. i had[ designer ]eeling enough of just covering up face time and think time make a difference. my moderate to severe plaque psoriasis. i decided enough is enough. ♪ [ spa lady ] i started enbrel. it's clinically proven to provide clearer skin. [ rv guy ] enbrel may not work for everyone -- and may not clear you completely, but for many, it gets skin clearer fast, within 2 months, and keeps it clearer through 6 months. [ male announcer ] enbrel may lower your ability to fight infections. serious, sometimes fatal events, including infections, tuberculosis, lymphoma, other cancers, nervous system and blood disorders, and allergic reactions have
the state department's own website describes as the government's only interagency on call short notice team poised to respond to terrorist incidents. as a result, the fbi could not enter the complex for 24 days at which point most evidence was gone. >> secretary clinton will be asked in particular why more securitifuls not provided after the june 6th bombing attack, and why ambassador stevens left part of the security team behind in tripoli, why the secrecy? lou? lou: jennifer, thank you. jennifer griffin, fox news national cor responsibility. exit polls show benjamin netanyahu winning the third term as prime minister of israel tonight. this, as the united states is providing a gift to egypt and muslim brotherhood member, president of e jupt, morsi. four f [laughter] 16 fighter jets left the country for egypt today part of a foreign aid package including 200 abe brame's tanks, and urged urged -- joining us now is andrew mccarthy, former federal prosecutor, convicted the blind shake, and he's also author ever the book "spring fever. illusion of islamic democracy," andrew, great to have you w
, in march, government spending does run out. they would focus on a longer-term debt ceiling increase sometime in april or may. that is the strategy from house republicans. president obama says he has not even entertained any type of negotiations. republicans should agree to raise the debt ceiling because having to raise it is the result of appropriations already passed and signed into law. back to you. melissa: thanks so much. ashley: here with reaction to the gop when it peter welch. thank you for joining us. you say, look, republicans are making it an "economic weapon of mass distraction." do they get is a continuation of that? >> it is actually progress for the republican confidence, but it is not progress for the country. that tack tick is not one that they can hold onto because they know it will plunge this country into a deeper recession. they have been -- it is a way to say they are avoiding. ashley: it really is not addressing the issue, though, what will it take to get that in place. i know that you, of course, have been leading the charge to have the president to prevent th
? >> that is things we cannot talk about what the government will not talk about. obviously a special mission is being prepared that would emerge if they're executed, but let's be clear, the lead is the algerians. they are on the ground surrounding the flight. some hostages have been killed, others have been freed, but very delicate and difficult situation. the fact that we have a drone next to the algerians and sharing of intelligence is most of what we can do at this point in time. although possible negotiations with third parties in the middle east including islamist government. we are using everything we can to free the american hostages. melissa: what is the relationship like right now? >> it has been very good in the past several years. but we're also having problems among each other. but on the larger scale, algeria fights al qaeda with us. melissa: how do you see this playing out from here, how do you see it and? speak ospeaker this situation wd with a military operation because al qaeda is determined not to negotiate, and the hope is al qaeda will be destroyed and all the house this will be r
. sympathy about government employees, all of that stops if there is no deal in place. most market participants, most analysts, economists believe they will come up with something, but it is the deal that is in place that is questionable, whether you're a rating agency, whether you are investor, whether you're somebody will look at the paycheck which most americans this week got a pretty rough, eye-opening look at their check. i guess it was last week, when they saw the big cut in the social security payroll tax. it was a jump. you have less money now. so many things are affected unfortunately. coming into february, here we are again going to be with spending cuts going to kick in officially. all of this will affect unfortunately the markets. it will be a little rough. the economy is fragile. don't get a deal, jenna. you're looking at recession. fitch knows that. investors know that. we're watching it here at fox business. a little rough. jenna: all right. those are the stakes, recession or not. we'll watch this very closely over next couple weeks. cheryl, thank you. >> you bet. jo
.s. debt ceiling or risk causing irreparable harm to the economy. he says the government will run out of tools to avoid a default by late february, early march. the u.s. credit rating is not a bargaining chip or hostage that can be taken to avoid any political agenda. president obama again rejected any negotiation with republicans over the debt ceiling. i love the debt clock. it's almost as fast as the amount of money they're going to earn tr nike. >> and is we'll talk about that. >> meanwhile, fed chairman ben bernanke speaking monday warned the u.s. economy isn't out of the woods yet and is still at risk from political gridlock. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits, it doesn't create new spending. so not raising the debt ceiling is sort of like a family trying to improve its credit rating saying, i know how we can save money, we won't pay our credit card bills. not the most effect of way to improve your credit rating. >> ben bernanke says the u.s. economy appears
the number of budget fight and win the debt ceiling, the sequester. government budgeting the deadline hits march. one republican leadership says republicans are when it comes to the debt ceiling settling on a strategy. >> the one thing is we have set a structure moving a short-term so people don't have a fear economically of where we are and are able to move forward to solve this problem once and for all. rich: the strategy would be a short-term debt increased to work on the other spending points and come back to the debt ceiling perhaps in a few months. he says he is not sure when the timing of that vote would be, he only says sooner rather than later. connell: republicans have become of this retrieve a message that resonates with working people and says william berg is just group therapy. chris used to be al gore's press secretary, says the spectrum represented right here. i will allow you to go first for a little bit of fun. what do you mean by that? >> after the election were told republicans were going to do some soul-searching for the record low numbers of minorities that had voted.
a decision because he is told that government will take over 60% of its income. is that fair for any californian to be faced with a decision like that? melissa: he also flirted with the idea of being part of a group that would bite into the padres. he is a hometown hero. somebody who means a lot to southern california. are you worried about your state in light of things like prosperity? >> we continue to see people leaving the state of california and there are better ways to raise revenue. one is by broadening our tax base by encouraging businesses to come to the state of california and expand here. that will solve our problems of increasing revenue. melissa: you talk about that the way you would encourage businesses to come would be to lower their tax rate. so, you know, it is quite the opposite of raising it. do you think you could ever get that done in california's current climate? >> not in our current climate we are not going to get it done. we need to cut government regulations. we need to give businesses incentives to be here. that in turn would bring revenue. melissa: you kno
enough for their retirement. they are increasingly reliability on government funding so that is a long-term problem. in fact, that's one of the reasons that we haven't been able to see a robust recovery is we don't have that catalyst for growth, ie the consumer taking on new amounts of debt and spurring new consumption because we're still de-leveraging from the decades of debt accumulation we've gone through. clearly this is a long-term probable. if we're focusing on just 401(k)s i don't see this as a net negative, people being able to access their own funds and use them as they see appropriate. >> i definitely don't recommend it. >> steve, while i have you here, i understand you have more detail on secretary geithner's letter to speaker boehner. >> right. >> what can you tell us. >> on the one hand it's completely expected. there are four extraordinary measures that the treasury secretary is allowed to invoke as we near the debt ceiling. what he did in this letter that just came out is he invoked the third one. i believe all four of these measures are built into the existing timetable
. of course, the quester and the -- the continuing resolution to fund the government, but you're hearing some of both parties saying they might even accept the sequester. some of the stakes appear to be fading from these disagreements that paralyzed washington at the end of last year. >> when i heard this original deal profrksd i thought it was on the condition that the senate eventually congress had to actually pass a budget finally. >> that's still on the table. >> that is still on the table. a little bit less clear is the fate of the idea that somehow pay would be suspended for members of congress if they don't pass a budget. >> right. >> there are questions about the constitutionality of that provision, but the entire provision is to try to force the senate to force a pass a budget, and the senate intends to do that. >> that's significant because it's written within the law that when you pass the budget the debt ceiling automatically gets raised and then you don't even have to have this discussion at all. even before the debt fight was pushed off in the spring the equity markets were off
government budget balancing is hurting employment and will probably lead to more job losses in the near future. >> all right. let's take a look at the markets this morning. markets have been sitting at these record levels. you can see right now those dow futures pulling down by about 12 points. s&p futures are indicated slightly lower, as well. but the nasdaq is indicated higher. the dow jones transport sitting at an all-time high. other markets sitting at five-year highs. the big question is whether the dow jones industrial average follows suit. you're a huge transport. >> yeah, i am. that's all all-time highs. >> all-time high. oil prices, you can take a look. you'll see right now is down by about 2 cents to 95.54. the ten-year note that had been coming down the yields last week a little bit, you can see the yield right now is at 1.877%. the dollar this morning after the euro picked up strength last week, the dollar is stronger against the euro and the yen and the pound. right now, dollar/yen is at 88.79. gold prices this morning up about $5.80. $1,6933. >>> german chancellor angela m
of the facility in eastern algeria that simon referenced. neither b.p. or stat oil, nor the u.k. government nor the u.s. government able to provide any clarity about the state of that on peril rags. there are conflicting reports about casualties. b.p. along with other energy companies in the country are moving nonessential employees from algeria. once again, in the last hour the white house strongly condemning the attack on the plant and the white house spokesperson saying president obama is being briefed regularly on the situation. they would not provide any clarity about whether or not there are u.s. drones over algeria at this point. to give you the background, a group connected to al qaeda has claimed responsibility for this attack. they said it is in retaliation for fran's moving into mali. they tried to put a stop to islamic militants trying to take over that country. >> michelle, the earlier reports i saw in the associated press, news source, there were multiple fatalities, maybe as many as 35 among the whose stages. that is now an unreliable report, right? >> absolutely. at this point n
, charles. i don't want a government official stepping in so deeply, making basically editorializing about things like that. charles: this is what some people might say, the president has a big stake in the auto industry and the auto comeback, particularly ahead of the election, listen, the government backs out of these auto loans, through the roof and if you can knock the competitive american cars down and maybe deliberately trying to stop americans from tying toyotas. the flip side, boeing is our largest exporter, it seems, don't drive this car, but fly this plane. charles: and some are reaching out. >> replace the lithium batteries, they cause fires in cell phone and laptops. >> and barack obama tells congress to pass an assault weapons ban and the national rifle association calls it the fight of the century and added 250,000 new members the pro gun organization now has well over 4 million members. and fbi says it's conducted 2.8 million background checks just in the month of december, that's a record. there's a nationwide run on guns, gun manufacturers in fact cannot keep up with deman
to strategize on how to rein in government spending. connell: rich edson with all the details. rich: a very busy legislative day. they are dealing with this handy appropriation bill. republicans are discussing a number of different options. there is a major house republicans of that. their annual retreat takes place on wednesday. >> when does this budget balance? here is when the budget gets to balance if we adhere to these cuts. rich: republicans trying to figure out their opening position on the debt ceiling. democrats and the white house have already come out with theirs. president obama saying that he is not negotiating it. he says he is willing to talk about deficit reduction, perhaps modest reduction to healthcare spending. as long as it comes with curbing loopholes and tax reductions for wealthier individuals. congress should just do it. back to you. connell: let's bring in dylan glenn. former advisor to george w bush. rich said that republicans have reasons for not having this meeting today. the president is standing back and think i am not negotiating on this and the republicans are all
. >> and the legislature do this? >> we do not get turned into people that are absolutely afraid of what the government can do to us. >> we are going down a slippery slope that can be very dangerous. >> we are going to miss an opportunity of the source of this anger and violence. stuart: baby i went overboard. i have been saying all morning i think that is the most important shift. what do you think? >> i think that is true. >> even when the police chief was colin ferguson, i have to be honest, a guy like that, they taken off the street and then they put him right back out. stuart: he would not be allowed to buy a gun. >> most of these guys are not allowed to buy a gun anyway. thank you very much. stuart: dagen and final, it is yours. connell: the new plan for gun control. we will take you there live. dagen: jamie dimon, his take is cut in half. the man still made millions last year. connell: japan's two largest airlines ground the dream liner after yet another incident. dagen: stocks now and every 15 minutes. nicole petallides on the floor of the new york stock exchange. nicole: let's take a look at jpmor
says the government has begun borrowing from the federal employee pension fund now to keep operating without surpassing its debt limit. these are some of the steps they can take. in a letter to congressional leaders, geithner says the move will free up $156 billion in borrowing authority. we've gone through that this morning. the action has been taken by other treasury secretaries and will not put in jeopardy any monthly pension payments. that's not a lot sounds like a lot. >> not a lot at all. >> fay back later. >>> the house approved $50.5 billion in long-delayed federal disaster aid to the victims of superstorm sandy yesterday by a vote of 241-180. the senate is expected to pass it. the house approved the aid in two parts. $17 billion in funds to cover immediate disaster relief. $33.5 billion in longer term reconstruction funds. >>> big day today as far as birthdays. maybe you're not aware of this -- especially it's appropriate today that it's this gentleman's birthday. >> who? >> whose birthday? >> his 112th birthday. >> google like some -- >> who's that? >> oh, we're going to ha
americans held by islamic militants. u.s. government officials tell cnn that may not necessarily, though, be the case. let's get straight to our pentagon correspondent chris lawrence working this story for us. chris, be what is the very latest that you're hearing? >> wolf, the latest that we're getting from u.s. officials is that some americans may have escaped but some may still be held by those hostage takers and they are still seeing signs perhaps of some intermittent fighting, suggesting that perhaps this isn't over yet. as the hostage situation stretched to a second day, u.s. officials scrambled to find a resolution and determine the state of the americans still in militant hands. >> this incident will be resolved, we hope with a minimum loss of life. but when you deal with these relentless terrorists, life is not in any way precious to them. >> americans and other western workers were on as about when multiple militants attacked. the militants took hostage at this gas plant heavily armed with rocket grenades and forced some hostages to wear explosive vests. the militants may have t
that the government will run out of money. there will be no authorization to spend anything more and the government could functionally shut down. is that involved here at all? >> not in a formal sense. but of course all of this is linked together, what the spending plans are to come up with cuts to avoid the budget sequester which neither party wants because it affects it in is indiscriminate way. and do you have the continuing resolution which would expire a couple of weeks before this deadline. and that is a bill to fund the government the rest of the year. that's comparatively easy because the government spending is on auto pilot. the budget see quester is tougher but still as long as you have only a short term extension of the debt limit, tyler, that issue will hang over the debate. you just won't hang over it the next couple of weeks. >> see you monday more the inauguration. >> you bet. >> now to another breaking news station. this one in algeria. things are still very fluid. the terrorists are still holding hostages 800 miles south of aljeers. they also want the blind sheik. he was tied to th
is into this belief that china is not slowing and that they actually come up with these numbers that the government cannot rig. none of the companies in china actually have real accounting companies auditing their numbers. including the government- > bonus round time. let's take a look at the top new year's resolutions. name the most popular resolution for the new year. is it: drink less alcohol lose weight or watch more traders unplugged on first business? > > use stop-losses. > > i think it is c, and i think alan is going to realize it turned into the biggest bear ever this year. i should have listened to andrew. the market is going to hell. > > you guys are great. thank you. prepare your taste buds. a look at what new trends the restaurant industry is cooking up for the new year. stay with with us. like fashion and hairstyles, food service in fact follows its own trends. so what's in store for the new year? david henkes is a vice president at technomic, the top food service research & consulting firm. i guess you would have liked to have gone out and done some of the field work yourself but you
to avoid a situation where our government doesn't pay its bills. ahead of that, stocks were mixed, the blue chip dow rose almost 19 points, while the nasdaq dropped eight, and the s&p 500 down a point. >> susie: weighing on the nasdaq today: apple. the stock got crushed, on word demand for the iphone 5 is slipping. the stock closed just shy of $502, losing almost 4%. in pre-market trading the shares briefly fell below $500, the first time in nearly a year. suzanne pratt reports. >> reporter: apple has been taking a big bruising. first, it was the earnings miss for the september quarter, the second straight. then, there's been growing speculation the tech innovator is losing its edge to competitors, particularly samsung with its popular galaxy smartphone. finally, today there were reports apple dramatically cut orders for iphone 5 components, due to weak demand. to be sure, apple has not confirmed soft sales with hard numbers. but, experts it would not surprise them if consumers were sour on iphone 5. >> it may be significant, we just came through the consumer electronics show and virtually
they do that? are there checks and balances? >> the government and the private companies are blaming each other. venezuela is pointing fingers everywhere. we have the government that is blaming the private companies of hoarding the products to destabilize the country and possibly provoke a coup because of what is happening. >> a coup? >> yes. but then we have the private companies in the position that are blaming the government for not providing a stable capital control and limiting the dollars to venezuelans and other companies so they could purchase out of venezuela. >> is this nationwide? is this just caracas? >> it is mostly happening in caracas, but it is also throughout the whole country. it has a lot to do with inflation. but also there is something we have to talk about which is the price regulation that the government created last year. let me show you an example. talk about milk production. milk producers, they can only receive 3.6, equal to 84 cents, where leader once selling their milk. however, the cost of production, it is 4.13. which is 96 cents. so on average milk producer
company, not just the united states. you need a government investigation and injugs to stop him if he wants to go higher. >> that seems to be the crux of mr. acman's argument. that eventually it will shut them down. >> obviously they can take profits heave, right? but this isn't -- i have 6:00 that if lobe and icahn want to come in at the same time that the company comes in with a buyback underneath action then this is a better long than a short. >> it's interesting in the conversations we've been having with lawyers, acman has boasted in the past he -- has more -- >> what's the price per lawyer, like a p.e. kind of thing? i think herbalife, this is a battleground like you wouldn't believe. will be back to where -- >> it's higher. >> right. i just think that you're misjudging michael johnson, if you think he's not going to be there buying back stock. he's a passionate man. i don't want to misjudge michael johns un. >>> coming up next, the need for speed, ducati and how they plan to rev up performance this year. [ male announcer ] you are a business pro. executor of efficiency. you can
ratings for corporate debt issues. >> tom: it really focuses on the firm's ability to rate government securities and government asset back securities. we spoke with sean egan when the s.e.c. first levied these charges last april. the agency, sean, isn't calling into question your ratings. instead, it's talking about your application itself. what about the information on that application? >> that is the issue, and, according to the s.e.c., we think it's a paperwork issue that we... i was responsible for filling out that form. i filled it out in accordance with our lawyers' guidance. they said, "fill it out as honestly and accurately as possible," and i did. if i had to fill it out again today, i would do exactly the same thing. >> susie: it will be interesting if he really thinks that today in january. unfortunately, egan was not available for comment tonight. >> tom: we have an invitation to him, however, on this first trading day on this shortened trading day. stocks began the shortened trading week by adding to recent gains. the s&p 500 didn't manage to pull itself into positive ter
a strong defense of government saying that, quote, preserving our individual freedoms ultimately requires collective action. take a listen. >> the american people can no more meet the demands of today's world by acting alone than the american soldiers could have met the forces of fascism and communism with militias. or build the roads and networks and research labs that will bring new jobs and businesses to our shores. now, more than ever we must do these things together as one nation and one people. peter: the president also did however discuss revamping the tax code, reducing healthcare spending, trying to reduce deficits, but acknowledging the realities of divided government, said, quote, today's victories will only be partial. cheryl? cheryl: peter barnes of course standing by at the white house, big day in d.c., cold day as well. peter thank you. well, while most of the markets are closed today, money is still moving. now is your chance to make money on currencies. joining me now for a fox business exclusive interview is forex.com senior currency strategist. welcome. currency markets
. now, perhaps, the harshest cuts so far, all airline scrambling to reshuffle flights as governments around the world vote -- forced boeing to ground all the seven a seven. suppose to be celebrating. there not. howdy use a nightmare in polish? >> actually, i lifted up. that is exactly what is happening. they were inaugurating were supposed to the flight between warsaw and chicago. a very popular route. take a look at where the aircraft is right now. supposed to have back last night it is still parked here today. we went around to the back of the airport and get a look at the 787 dream liner. two are flying. it is now grounded along with 49 other aircraft around the world. a huge hit for boeing and also, i might add, the first airline to say, we are going back to boeing and we're going to ask for compensation on this. take a look at what the number two man at the polish airline had to say. essentially, we're going back to the contract to look to see what we can do to get compensation. it is a huge hit for us. out of here tonight, and they hope to get it out with a replacement aircraft
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